Is The Bitcoin Trump Pump Sustainable?

Institutional Crypto Research Written by Experts

Author

Markus Thielen
July 01, 2024

👇1-10) In our June 25 report, ‘Bitcoin Is Holding The Line – For Line!‘, we wrote that “Bitcoin is deeply oversold,” and technically, all three reversal indicators flipped to bullish shortly after. The Ethereum ETF approval has been pushed out to around July 8, pushing out the date to ‘sell the news’ while Biden’s performance during the presidential debate has also supported Bitcoin.

Bitcoin’s RSI (relative strength index) - a temporary rebound?

👇2-10) Bitcoin has rallied +4% as US President Biden refuses to let other Democratic candidates run against former President Trump. Biden’s family is reportedly supporting his reelection candidacy – and so is every Republican, as the prospect of Biden beating Trump in the November election appears small.

Sponsored
Biber Analytics Newsletter FreeUnlock the hidden information of the market with our free newsletter – dive deep into cycles, sentiment, breadth, and technical insights across multiple assets!

👇3-10) Polls also indicate that even if Biden drops out of the race soon, another candidate, such as California governor Gavin Newson, would lose against Trump. Under his watch, California has become a mismanaged state. Many tech companies have been leaving the Golden State; crime has become rampant, while the homeless population has exploded. California is no longer the state America looks up to, making it unlikely that the US voters will elect a candidate from that state.

Subscribe to Market Updates to read the rest.

Become a paying subscriber of Market Updates to get access to this post and other subscriber-only content.

Already a paying subscriber? Sign In.

A subscription gets you:

  • • Receive 2-4 concise, informative Market Updates reports per week.
  • • We cover everything that impacts the price of Bitcoin and other major cryptos, from on-chain data to macro and market structure (funding rates, money flows, etc.). Our insights are trusted by some of the largest hedge funds and traders in the industry.
  • • You'll gain full access to our in-depth 'Market Update' analysis, informed by our experience at leading investment banks like Goldman Sachs, Morgan Stanley, and JP Morgan, as well as managing hedge fund capital at Millennium.
  • • We rigorously backtest our insights and are unafraid to call bullish or bearish market conditions. Our research is unique and grounded in solid financial analysis, offering perspectives you won't find anywhere else.